A Best Buy employee uses a cart to do shopping for an online customer at South Bay Center in Boston on Nov. 10, 2020. Retail trends are changing during the Covid-19 pandemic, and Best Buy has begun offering their holiday Black Friday sales and deals earlier in the month to thin out crowds.
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Consumers are still spending money on outfitting their homes even as some investors worry the trend could be ending as the pandemic eases, CNBC’s Jim Cramer said Friday.
The type of spending is just changing, continuing to benefit retailers such as Best Buy, Cramer said.
On “Squawk on the Street,” Cramer called attention to recent remarks from Best Buy’s chief executive, Corie Barry.
“Customer demand for technology products and services during the quarter was extraordinarily high,” Barry said a conference call Thursday after the company beat Wall Street expectations for its fiscal first quarter earnings.
“This demand is being driven by continued focus on the home, which encompasses many aspects of our lives, including working, learning, cooking, entertaining, redecorating and remodeling,” Barry continued.
